Texas Makes Massive Move to Prepare for Secession From the Union

Texas was an independent nation from 1836 to 1845 before it became a state. That’s why it is referred to as “The Lone Star Republic.” Now Texas may be making a big move to secede from the United States and become a republic once again.

The state legislature recently announced that Texas’ gold holdings will be kept within its own borders. Of all 50 states, only Texas has a stockpile of gold, amounting to approximately 5,600 bars or $650 million worth. Currently, the gold is held in an HSBC bank in Manhattan.

This decision was met with approval by conservatives and others who have little confidence in the long-term economic viability of the federal government or who oppose the moves of the left-leaning, ideologically driven management of the federal government by President Obama.

Subsequently, many individuals wonder if this is a move by Texas toward eventual secession from the United States.

“Just moving it [the gold] would be pretty expensive and, unless Texas is anticipating withdrawing from the Union, which I suspect is some peoples’ want, I don’t see what advantage it is,” said Edwin Truman, a senior fellow at the Washington-based Peterson Institute for International Economics and an expert on gold and monetary policy.

The bill to move the gold was introduced by state Rep. Giovanni Capriglione. It easily passed through the state legislature. When Gov. Greg Abbott signed the bill, he tweeted, “California may be the golden state, but Texans deserve to keep their gold in-state!”

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The one big problem now is that Texas doesn’t have a bullion depository like the federal government’s depository at Fort Knox, Ky.

“We are honestly at the phase where the questions we are answering are creating more questions that we have to answer,” said Chris Bryan, spokesman for the Texas comptroller’s office, which is responsible for putting this new law into effect.

Capriglione believes private companies could create a depository and charge the state for storage and service.

Texas’ gold is held by the University of Texas Investment Management Company, an academic endowment that began acquiring gold futures in 2009 as a hedge against a weakening dollar. Eventually, the company moved to gold bars.

“I think Texas is once again showing they’re ahead of the curve,” said James Rickards, author of “The Death of Money: The Coming Collapse of the International Monetary System” (H/T The Blaze).

Or the state has had all it can take from Obama and is formulating a plan to go it alone if the country continues to drift leftward and further away from values generally embraced by Texans, such as limited government and self-reliance.

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